Asian Session – Dollar stabilizes after drop to 4-month low against yen; pound in focus ahead of Brexit talks commencing

Posted on March 28, 2017 at 7:58 am GMT

The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform. Investors have now shifted their attention to US President Donald Trump’s other policies with regards tax cuts and infrastructure spending. The market’s disappointment eased as focus now turns back to US economic growth showing signs of improvement while the Federal Reserve is firmly on a path of rate hikes, albeit gradual. Chicago Fed President Evans, speaking yesterday, reiterated [..]


Technical Analysis – USDJPY bearish bias; more than 4-month low recorded yesterday

Posted on March 28, 2017 at 7:12 am GMT

USDJPY is relatively flat on the day after hitting a more than four-month low during yesterday’s trading. The RSI indicator is bearish as it is well below the 50 neutral level at 31. Note that should it fall below 30 it would enter oversold territory. The MACD histogram is pointing to a bearish near-term bias as well, as it is negative and below the red signal line. The 112 handle could serve as a psychological barrier to any upside movement [..]


European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:04 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]


Forex News – Dollar close to erasing post-election gains after Trump healthcare bill fails

Posted on March 27, 2017 at 11:17 am GMT

The US dollar rally suffered a major setback on Friday after the Trump administration failed in its attempts to repeal and replace Obamacare – a key election pledge. Having postponed the vote on the American Health Care Act from Thursday to Friday, House Republican leaders decided to pull the bill after it emerged that there was not enough support from within the Republican Party to ensure that the legislation would pass. The vote was viewed by the markets as the [..]


Technical Analysis – EURAUD continues climbing; near two-month high recorded today

Posted on March 27, 2017 at 10:55 am GMT

EURAUD is up from the day’s open while it recorded a near two-month high earlier in the day. Should the pair finish the day higher, it would be the fifth straight trading day it would do so. The RSI indicator is hinting to a bullish short-term bias as it is currently at 64, a point which is comfortably above the 50 threshold that tends to distinguish positive from negative near-term sentiment. The stochastics are painting a similar picture as well [..]


Forex News – Euro rallies on strong Ifo numbers and German CDU election win

Posted on March 27, 2017 at 10:49 am GMT

Upbeat news out of Germany today gave the euro an added boost. Business morale in the Eurozone’s largest economy rose to a six-year high in March. This was a big surprise considering recent concerns over the rise of nationalism across Europe but it appears that political issues have not affected German business sentiment. Meanwhile, news of the CDU victory in German regional elections in Saarland over the weekend boosted Chancellor Angela Merkel’s chances of winning the September 24 federal elections. The [..]


Asian Session – Dollar falls across the board, gold rallies after new US healthcare bill fails to pass

Posted on March 27, 2017 at 7:31 am GMT

The dollar fell across the board and gold rallied as risk aversion in the markets increased demand for safe haven assets after news that the US House of Representatives failed to pass legislation that would reform the American healthcare system. Repealing and replacing Obamacare was one of Trump’s major election campaign promises and his inability to pass the new healthcare bill is raising concern on whether his other more important plans on tax cuts and stimulus measures will get executed [..]


Technical Analysis – Gold bullish bias; price at four-week high

Posted on March 27, 2017 at 7:11 am GMT

Gold has edged higher since the day’s open with the price recording a four-week high as it approaches the 200-day moving average (MA). Both the RSI and MACD indicators are pointing to a short-term bullish bias as RSI is well above the 50 neutral level at 66, while the MACD histogram is positive and above the red signal line. Note though that RSI is relatively close to the 70 overbought level. The 200-day MA at 1260.13 is expected to provide [..]


Week Ahead – Investors on alert for Brexit trigger; Japanese and US data to be watched

Posted on March 24, 2017 at 4:12 pm GMT

Data out of Japan and the United States will be the main items on next week’s economic calendar but markets will likely be more preoccupied with the UK formally opening Brexit negotiations with the European Union. Other highlights next week include Eurozone flash CPI and business surveys. UK set to finally invoke Article 50 The long-awaited triggering of Article 50 of the Lisbon Treaty by the UK government on March 29 could cause fresh jitters in financial markets or may [..]


European Session – Euro rises above $1.08 after PMIs, dollar struggles on jitters ahead of US healthcare vote

Posted on March 24, 2017 at 4:03 pm GMT

The main focus of the markets was the healthcare bill in the United States, where the House of Representatives is set to vote on repealing and replacing Obamacare. With a lot of political wrangling within the Republican party that resulted in delaying the vote, US President Donald Trump announced yesterday he just wants to get on with the vote and proceed to more important legislation on tax reform and stimulus spending. The dollar has been little changed on the day, [..]

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